More Development

In other news, yet another development complex was announced for downtown Sarasota. This time at the corner of 301 and Fruitville. The wrinkle here is that one of the partners owning the property may sell out first. Apparently a New York investor may be willing to pay $43M for a share of the property.

In the background, the city is in the process of mass re-zoning all of downtown. The new zoning codes result from the Downtown Master Plan and its attempt to balance the need for some downtown growth (make it more lively) while controlling growth.

This attempt at balance is tipping precipitously as many developers try to get project applications into the pipeline before the new codes take place. Some parts of downtown will have lower density under the new codes and could cost some landowners significant investment potential, thus the rush to the feeding trough.

The rapid and significant growth in Sarasota is causing much concern among the residents. What is causing this change, who is allowing it, why here, why now? Many residents came to Sarasota because of the unique combination of a lively cultural scene, mixed with beaches and golf courses all wrapped in a small town atmosphere. The changes are causing increasing concern.

One result was the election this week that removed an incumbent commissioner in favor of a newcomer who promises changes including communication of his vision, control of growth and traffic and emphasis on affordable housing. If he continues to listen to constituents and shows the leadership he promises he may be able to ease the concerns expressed by an increasing number of residents. We hope so!